Opportunities abound for fitness companies and personal trainers in the hot virtual fitness space
The fast-growing global virtual and online fitness market is expected to reach a staggering $256.97 billion by 2032, and by 2022, according to recent findings from market research firm The Brainy Insights. This is a significant increase from its valuation of $15.82 billion. Even better, the market is fertile ground for fitness companies and personal training professionals.
Driving rapid growth is demand for augmented reality (AR) and virtual reality (VR) fitness, as consumers increasingly rely on technology as a way to connect and stay fit and healthy. This has probably been accelerated by the pandemic. The active aging demographic is also contributing significantly to the projected upward trajectory of the market, as older fitness enthusiasts are showing interest in online fitness.
Fitness brands embrace VR
The report highlights several industry leaders recognized for their contributions to the growing virtual/online fitness market, including Mindbody/ClassPass, Fitbit, Les Mills, and Wexer.
Les Mills recently released Les Mills XR Dance, a virtual fitness game that transports holographic professional dancers into the personal space of MetaQuest 3 users.
Virtual fitness platform FitXR is also focusing on mixed reality (MR) and VR, with CEO and founder Sam Cole predicting the technology will be introduced to gyms and fitness facilities soon. . The virtual fitness platform just announced Slam, an immersive and gamified mixed reality experience with pass-through functionality.
“The gamification aspect of Slam has allowed us to reach a whole new group of users who are anxious about exercise, as well as young people who are addicted to sedentary gaming,” Cole said in Athletech News. told.
Even activewear brand Puma is highlighting the fun experience of virtual reality and mixed reality fitness, working with MetaQuest to promote the “World's Smallest Gym” in its German stores. The pop-up event invites guests to explore the workouts provided by his Meta Quest 3 inside his 2m x 2m pod.
Online fitness is in high demand
The benefits of virtual fitness are numerous for consumers, who benefit from the convenience and flexibility of working out on their own schedule and current location. Additionally, as acknowledged in the report, virtual fitness platforms are often less expensive than traditional gym or studio memberships, and many require little or no equipment.
Fitness enthusiasts can access seemingly unlimited training methods with just a few clicks, including boxing, yoga, dance cardio, Pilates, HIIT, ballet, and more. Many fitness providers also offer the option to tailor your workouts based on your skill level and health goals, allowing you to further customize your online fitness experience.
Can virtual fitness become the new Rx?
As the report shows, virtual fitness can break down barriers that brands may experience in-person, such as meeting the needs of consumers in geographically remote areas. Fitness platforms also have a huge opportunity to increase market penetration by targeting content and classes based on regional preferences and cultural differences.
Corporate wellness programs and healthcare providers can partner with virtual fitness companies to promote better health outcomes for their employees and patients, and even consider prescribing virtual fitness as part of their care plan. Although still in the early stages of research, preliminary studies suggest that VR exercise may positively impact physiological, psychological, and rehabilitation outcomes compared to traditional exercise.
In line with this report, demand for virtual trainers and wellbeing coaches has increased by 44% year over year, according to corporate wellness company Gympass. Gympass has released its own findings after analyzing more than 250 million check-ins on its platform. For the past 24 months.
